Congressman Patrick McHenry, Chairman of the Financial Services Subcommittee on Oversight and Investigations, released the following statement regarding a federal appeals court decision to strike down President Obama's recess appointments:
"Making recess appointments while Congress is in session not only violates the law, it violates common sense. The Appeals Court ruling against President Obama's recess appointments is a victory for the United States Constitution. When President Obama made the decision to ignore the advice and consent authority of the U.S. Senate and allow Mr. Cordray to sit atop the powerful CFPB, he created a situation in which any actions taken by the agency would be open to legal threats. Now their actions and authority leave even greater uncertainty for consumers and businesses alike."